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we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's showing. >> neil: adam, i'm worried that they make ahristmas tree out of this and throwing more and more ornaments because it's the next legislation that we're cobbling together we might as well put some spending in there. in this case, a minimum of 50 billion others like chuck schumer talked not trying to find a wayo wiggle half a trillion dollars for another construction effort here, and on and on and on. >> well, of course, unfortunately, neil, i should say for better or worse, the way you're describing it is in fact the way it works, that's how the christmas tree ets built and-- >> you don't find it ironic, part of a year end fiscal cliff avoider meant to address spending includes measures that hike spending? >> well, you'll getting there. i mean, ihink it's curious to-- >
we're running such a huge deficit. unless he's a poker player and this is a bid to throw us off pace, that's not a serious proposal. we're not dealing with this seriously at 1600 pennsylvania avenue and he owes the population a lot more than he's showing. >> neil: adam, i'm worried that they make ahristmas tree out of this and throwing more and more ornaments because it's the next legislation that we're cobbling together we might as well put some spending in there. in this case, a minimum...
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his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >> it was on the table. did the president agree to it? it may have been close to an agreement to it. if he agreed to it we might not have some problem today. >> is that on the table now. of course, it's on the table. >> no, is it on the table from their point of view. >> well, there are a lot of items on the table. the president knows what they are. the question is what are they willing to do. >> you are starting it have some political problems because you are starting to have some split necessary your ranks. i don't have to tell you one of the top
his own deficit reduction commission. he knows what our proposals are, he knows what we are throwing do. what we don't know, chris, is what is the president willing to do? >> well, let me ask you specifically about that. is it true, because it's been said but we've never seen a piece of paper; it true that the president offered to raise the eligibility age for medicare and to slow cost of living adjustments for social security what you were in your debt talks in august ofs2011. >>...
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every step that you can take to reduce the deficit is good. you negate the large ones and that's why they are not able. it is it simpson bowles. it is it there forever. noven them grabbed it or used it and coming up. unable to pay back. it is the first time everybody >> college loans getting a failing grade. initiative deling quent student loan are surpassing the deling quent credit card bances. >> it bothers me on so many levels and not because of my three kids going to college. we have an economic issue. kids are coming out of college and no job to pay off the loan. their disposable income is lower. they will be living at home . can't bay the first car or tv or anything. the only reason they have loans, college hike tuition because they get free government money to pay for it. >> john than what does that do to the economy over all? >> it hurts the economy. any time the government involves in ethanoyl or kid's education or health care or housing it lead toz destruction. the pearl student loan went up five percent. 85 percent of that is held b
every step that you can take to reduce the deficit is good. you negate the large ones and that's why they are not able. it is it simpson bowles. it is it there forever. noven them grabbed it or used it and coming up. unable to pay back. it is the first time everybody >> college loans getting a failing grade. initiative deling quent student loan are surpassing the deling quent credit card bances. >> it bothers me on so many levels and not because of my three kids going to college. we...
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as a result, my pred ases sors built up a deficit that wasn't reported as part of the deficit i dealt with. >> the bus is running over and other and over. >> it was a series, this happened over a 20-year period time. >> right. >> you don't report under gap. you extend the fiscal year for income out but shorten it for payments or income in, payments out. you do all kind of crazy things. enter into a 20-year transaction for state employees that guarantee benefits, tieing the hands of future administrations. lots of crazy things happen when there are no rules. for a long time, there were no rules. >> not to mention, you use a credit discount rate for pension, liabilities. i will say, first states have cut spending but they have to cut way more according to to gao, they have to cut at least 13% every year. their reason is, one of the things we should not forget is one of the things we should do when times are good is actually save money. >> yes. >> it's not what states have done. when time was good, they were spending, spending, spending and spending. in fact, states, when private gdps gr
as a result, my pred ases sors built up a deficit that wasn't reported as part of the deficit i dealt with. >> the bus is running over and other and over. >> it was a series, this happened over a 20-year period time. >> right. >> you don't report under gap. you extend the fiscal year for income out but shorten it for payments or income in, payments out. you do all kind of crazy things. enter into a 20-year transaction for state employees that guarantee benefits, tieing...
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every step that you can take to reduce the deficit is good. you negate the large ones and that's why they are not able. it is it simpson bowles. is it there forever. noven them grabbed it or used it and coming up. unable to pay back. unable to pay back. it is the first time everybody [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. this is awesome. [ male announcer ] yes, it is, business pro. yes, it is. go national. go like a pro. >> college loans getting a failing grade. initiative deling quent student loan are surssing the deling quent credit card bances. >> it bothers me on so many levels and not because of my three kids going to college. we have an economic issue. kids are coming out of college and no job to pay off the loan. their disposable income is lower. they will be living at home . can't bay the f
every step that you can take to reduce the deficit is good. you negate the large ones and that's why they are not able. it is it simpson bowles. is it there forever. noven them grabbed it or used it and coming up. unable to pay back. unable to pay back. it is the first time everybody [ male announcer ] you are a business pro. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go....
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we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases right away. >> yeah. >> can i ask you, though, how can you guarantee e that all the extra tax hikes and provisions actually go towards paying the national debt and not more spending and more programs? >> you can't guarantee that but you have a conservative republican congress. they are not going to vote for any spending increase. why not take advantage of that and make the initial cuts and let them go into a stalemate for awhile. that's a pretty big amount. my sges that provides the certainty. we go back to the clinton tax rates. and we make sig
we need to do something about the deficit. going over the fiscal cliff is the best thing we're going to get out of washington in terms of serious production to the deficit. we will suffer, but we got ourselves into this. we're not going to get out without some pain. i think we are going to go over the cliff. >> let me quickly say i don't favor going over the cliff, but howe regard is right. if you're worried about the deficit, the easiest way is to go over the cliff. you have increases...
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lo discutimos con juan josÉ vargas y danilo medina enfrenta la primera crisis de su gobierno por el dÉficit fiscal que hereÓo de leonel fernÁndez miles llevan semanas protestando y exigen cuentas al ex-presidente fernÁndez a quien acusan de mal manejo y corrupciÓn para hablar de estos estamos con dos periodista que siguen de cerca el caso, nuria y alicia ortega. esta con nosotros nicolÁs... presidente de techo una organizaciÓn social que da a conocer la realidad de la pobreza en todo el mundo nos dice cÓmo ayudar con casas a familias en extrema pobreza. y comenzamos. vamos al punto, con jorge ramos. . >>> vamos al punto, mÉxico tiene un nuevo presidente, aunque no todos en mÉxico, consideran a peÑa nieto como su presidente, peÑa nieto obtuvo mÁs votos en la elecciones de julio a pesar de acusaciones de fraude de lÓpez obrador, un tribunal electoral dijo que estas acusaciones eran infundadas y le dio el triunfo a peÑa nieto ayer en mÉxico, el que fuera kahned dado del pri tomÓ posesiones. nuestro corresponsal estuvo ahÍ. >>> jÓvenes pedÍan auxilio por un hombre con una her
lo discutimos con juan josÉ vargas y danilo medina enfrenta la primera crisis de su gobierno por el dÉficit fiscal que hereÓo de leonel fernÁndez miles llevan semanas protestando y exigen cuentas al ex-presidente fernÁndez a quien acusan de mal manejo y corrupciÓn para hablar de estos estamos con dos periodista que siguen de cerca el caso, nuria y alicia ortega. esta con nosotros nicolÁs... presidente de techo una organizaciÓn social que da a conocer la realidad de la pobreza en todo el...
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that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that'sbout 8% of that deficit. so does that suggt we have a tax problem or, perhaps, a spending problem? think about this taxpayers making more than $250,000 representing the top 2% paid more than 46% f all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past tw
that leaves us with the deficit of one. that is the deficit. sizable it is. this will be the president's fourth for which he is personally responsible, fourth deficit in excess of a trillion dollars. president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that'sbout 8% of that deficit. so does that suggt we have a tax problem or, perhaps, a spending...
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volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentlemen is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and this dave thank you so much for being on the show very good to be here we're going to have you because you have said and i would definitely agree the bubbles have received bad press whether we're talking about the two live bubble in the sixteen hundreds or whether we're talking about the real estate bubble ahead of two thousand and eight but in some instances you say bubbles can be good why can bubbles be good and what kind of a bubble would we need or might we need now. well the first thing as you've said is that bubbles are boringly common where ever there is a active trading liquid market in an asset from tulip bulbs to real es
volume since the dot com bubble burst low business investment low were record budget deficits from the government and high unemployment do we actually need a bubble not a case i would make but a very smart gentlemen is here to tell us why they can sometimes be good joining me from our new york studio is dr william janeway he's senior advisor for warburg pincus technology and author of the book doing capitalism in the innovation economy markets speculation and this dave thank you so much for...
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how does that count -- >> it counts because it reduces the deficit. we're here trying to reduce the long-term deficit. >> they want new ones, the republicans? >> again, we're prepared to do these on the spending side. what we're not going to do is extend those tax cuts for the wealthiest americans. those cost $1 trillion over ten years. there's no possibility that we're going to find a way to get our fiscal house in order without those tax rates going back up. again, alongside that we're prepared to do some very detailed things on the spending side, and we're -- >> there's no guarantee, right? didn't that say that? at least according to the read-out we got, your plan, so you can feel free to correct me because you haven't given me a read-out of it. >> guaranteed up front measurable savings scored by sea enacted into law. the only guarantee is when congress enacts policies. >> you would be willing to go for specific things and guarantee that there would be a specific amount of cuts? >> of course, of course. >> but that's next year? >> no, that's not tr
how does that count -- >> it counts because it reduces the deficit. we're here trying to reduce the long-term deficit. >> they want new ones, the republicans? >> again, we're prepared to do these on the spending side. what we're not going to do is extend those tax cuts for the wealthiest americans. those cost $1 trillion over ten years. there's no possibility that we're going to find a way to get our fiscal house in order without those tax rates going back up. again, alongside...
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senate to pass important legislation, including the gramm-rudman deficit law, which was so important at the time. those issues remain important today. he did not aspire to be a politician, and he did not have to like one. he cared deeply. [laughter] we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most telling about warren rudman is the statement that represents what he was all about. he once said -- i consider myself an american first and a republican second. fiercely independent, and totally committed to the common good, he had the courage of his convictions and stood for what he believed in. in bidding farewell to the senate in 1992, he expressed gratitude for the opportunity to serve in the senate with talented colleagues. many are here today to speak about their experiences with him. he also expressed his hope for the future of the senate, saying it is a very special place with very spe
senate to pass important legislation, including the gramm-rudman deficit law, which was so important at the time. those issues remain important today. he did not aspire to be a politician, and he did not have to like one. he cared deeply. [laughter] we know he cared deeply about our country and devoted himself because he had a calling to shape and preserve our country's future. he believed deeply in the rule of law and used the force of his intellect to defend it. one of the things that is most...
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however, bearing in mind there are deficits that have to be covered. and there are spending that has to be reached. and in that environment, there is no other alternative but for higher taxes. do you think europeans like paying 40%, 50% taxes? but the alternative is not nearly so pleasant. i've just been to iceland, high taxes, high rate of living. and an economy that is actually recovering better than anywhere else from the financial crisis. so ali velshi, do taxes have to rise? yes, in the united states. >> i think we're agreed on this. richard, always my pleasure to see from you across the pond. richard quest. let's talk about where the taxes sometimes go. infrastructure, superstorm sandy caused overwhelming devastation and exposed dangerous flaws in u.s. infrastructure. coming up next, i'll tell you how investing in infrastructure will not only help get the power back on faster after the next storm but could be the key to jobs and the boom we've all been waiting for. you are watching "your money" on cnn. ♪ ♪ [ male announcer ] everyone deserves
however, bearing in mind there are deficits that have to be covered. and there are spending that has to be reached. and in that environment, there is no other alternative but for higher taxes. do you think europeans like paying 40%, 50% taxes? but the alternative is not nearly so pleasant. i've just been to iceland, high taxes, high rate of living. and an economy that is actually recovering better than anywhere else from the financial crisis. so ali velshi, do taxes have to rise? yes, in the...
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we have seen them run the deficit . medicare. when you see the american people paying on average. 115 million a year and getting something 300 mill or 300,000, benefits in their life. we have to do something about the fee for service program and get it a defined benefit and we have to reform and preserve mandatory spending programs. >> one of the things you are best at as a communicator of the republican party. what do you tell people who are worried about republicans or democrats might do in congress that would put their security in jeopardy? >> first and foremost, we are not talking about making change for current seniors or those 10 years from going in. but we have to do something for someone like myself who is 51 or those programs will not be there. we are talking 10-12 years of solvencey between social security and medicare. we have to be adults and leaders and say we have a program and we'll bring viable solutions to future generations. >> we are grateful you joined us this afternoon. thank you, congressman west. >> thank y
we have seen them run the deficit . medicare. when you see the american people paying on average. 115 million a year and getting something 300 mill or 300,000, benefits in their life. we have to do something about the fee for service program and get it a defined benefit and we have to reform and preserve mandatory spending programs. >> one of the things you are best at as a communicator of the republican party. what do you tell people who are worried about republicans or democrats might...
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brings our long-term deficits down. tough spending savings is part of that, and invest in things that matter to the american economy, like infrastructure, and getting americans back to work. we think we can do that. we have a good chance, and it's very important. and i think we'll get there, david. >> do you think we'll get a deal by the end of the year? >> i do. because the only thing standing in the way of that is a refusal by republicans to accept that rates have to go up on the wealthiest americans. and i don't really see them doing that. >> the idea that they have signalled something significant for them, which is -- >> what is that? >> putting revenue on the table. >> it's welcome that they are recognizing that revenues are going to have to go up. but they haven't told us anything about how far rates should go up, how far revenues should go up, who should pay higher taxes. >> republicans have said that no republicans will vote for a tax rate increase. do you think they are just bluffing? >> i can't tell you what t
brings our long-term deficits down. tough spending savings is part of that, and invest in things that matter to the american economy, like infrastructure, and getting americans back to work. we think we can do that. we have a good chance, and it's very important. and i think we'll get there, david. >> do you think we'll get a deal by the end of the year? >> i do. because the only thing standing in the way of that is a refusal by republicans to accept that rates have to go up on the...
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trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is preeminently where a president has to lead and be specific. you can't expect the republicans to lead on an area that he's dominated in politically. >> here's an entitlement idea, a way to help support medicare, let them dictate price -- drug prices. >> steve, this, to me, is a much more interesting debate than tom and dan. because i think the president has done exactly what he's done in the past in this negotiating. he's not grinding it out with speaker boehner. he's out giving speeches, rallying his base. meeting with groups like moveon.org.
trillion a year deficit. you're not going to solve all that with tax increases and cutting discretionary programs. we have to fix the intitlement programs. we can talk about how we do it. >> you have to be specific, steve. because when you talk about fixing the entitlement programs, we're clear, social security is off the table. what do you mean? >> what secretary geithner said is on a separate process. >> we're talking about between now and 30 days from now. >> this is...
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bub it is not part -- but it's not part of the current deficit issue at all. separate issue. you may call it premium the medicare program and tosses it over to the private health insurance companies. i have worked with the private health insurance companies for a long, long -- >> it's not true. >> sorry, it does happen to be what the premium support is all about. you are supporting the premium for private health insurance companies. call it vouch every or premium support. in either case it terminates the medicare as we know it. that is a problem for seniors. >> we are leaving on many point of disagreement, not agreement. we know you have a lot of work to do on the hill. we thank you for taking time out for us today. we wish you beth to find abcompromise. >> thank you. >> thank you, shannon. >> this is a fox news alert. nine militants and at least five afghans are reportedly dead after a fire fight at an air base in american afghanistan that lasted more than two hours. officials say two suicide bombers detonated explosives outside the base that helicopters fired on them. they
bub it is not part -- but it's not part of the current deficit issue at all. separate issue. you may call it premium the medicare program and tosses it over to the private health insurance companies. i have worked with the private health insurance companies for a long, long -- >> it's not true. >> sorry, it does happen to be what the premium support is all about. you are supporting the premium for private health insurance companies. call it vouch every or premium support. in either...
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. >> absolutel >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the probl is deeper than what you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that incdes adjustments for population growth. so what then? you increaseaxes four percent every year? that is absurd. at some point we need both parties to come together and tax this entitlement creep. we mention obama ape lot. he hasn't helped the numbers. but when you look at enment spending it goes up under a republican president. he can go in this and blame the republicans. >> i didt know there was a entitlement creep. maybe i got you wrorong. >> it is i an itch. >> and john, what about this. we have a budget if you can call it a budget that includes tax increases and no cuts at all from our treasury security. >> the tax increase aspect is ridickulous. we have a spending problem . you look at entitlements. i think it is i i don't they should exist. we did make promises and so the
. >> absolutel >> and that is increasing and guess what, that adds up to the deficit, right? >> david, the probl is deeper than what you are describing. this goes back decades. when you look at entitlement spending over the last half century, it has steadily crept up four percent every year and that incdes adjustments for population growth. so what then? you increaseaxes four percent every year? that is absurd. at some point we need both parties to come together and tax this...
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a lousy economy for four years, i left unemployment high, i increased the size of the debt and the deficit, i got everything i wanted, the place is a mess and look, i got reelected. so, what's so hard about me continuing to doing that and blaming it on them. obviously, i'm very good at that and that's base clr where he's going here and the republicans i think are not very good poker players, they're signaled they're relucks tennant to go over the cliff. if you're in this showdown, i is a, come on, bring it. >> paul: they will get blamed if that happens and the president is signaling that. that wouldn't be a pleasant outcome for them. you're saying they should suggest to the president we had he' be willing to do that and maybe he'll give at the end? >> yeah, i think they have to show that they are it, that he's in a negotiation and that he has to give and that they're willing to give and if they just say, look, we're so afraid of getting blamed for that, of course, he's going to roll over them. >> kim, where do you think the republicans are? where should they go here? do they have real opti
a lousy economy for four years, i left unemployment high, i increased the size of the debt and the deficit, i got everything i wanted, the place is a mess and look, i got reelected. so, what's so hard about me continuing to doing that and blaming it on them. obviously, i'm very good at that and that's base clr where he's going here and the republicans i think are not very good poker players, they're signaled they're relucks tennant to go over the cliff. if you're in this showdown, i is a, come...
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>> we have had 17 debt and deficit commissions since 1982 and listened to the experts every time. the national debt went from $1 trillion to $16 trillion. congress does not cut spending. they have been saying for a long time we need a balanced approach. the experts say we need a balanced approach. the so-called fiscal cliff is the most valid approach out of congress and now they don't want to do it. >> what happens if we do go over this cliff, aaron? our credit rating, what it means for those incentives and for the cuts that kick in automatically, what does this mean for us because it is not good by any means. >> see, it is a cliff -- >> you think it's a false deadline. >> i absolutely do. i think that suddenly markets will not crash, the bottom will not fall out. the world will not end. what will happen is that it will force members of congress to kick the can down the road to actually deal with those things. >> eric, thank you. many believe hitting the fiscal cliff will throw the country back into a recession. either way, we'll have eric erickson back after this plays out to see
>> we have had 17 debt and deficit commissions since 1982 and listened to the experts every time. the national debt went from $1 trillion to $16 trillion. congress does not cut spending. they have been saying for a long time we need a balanced approach. the experts say we need a balanced approach. the so-called fiscal cliff is the most valid approach out of congress and now they don't want to do it. >> what happens if we do go over this cliff, aaron? our credit rating, what it means...
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even if you accept that larger number, the deficit is $1.5 trillion so, even if the republicans raise the you are giving $90 billion. where are you going to get the rest of it? it will have to come from entitlement reform and meaning spending cuts. >> it's coming from loopholes. i think we can. >> he criticized governor romney's plan based on the premise there is not enough revenue in the loop homes. he has agreed to the flame work, revenues or the table. we will give you $800 billion. that is great starting point. president has insulted republicans who are going out on the limb by wanting to be more pragmatic about this by coming to the congress which even among the most liberal writers in it is not a serious proposal. the reality it has to be some point spending becomes the conversation, not revenue. >> we have given quite a bit up. we have given up $2.5 trillion. >> you gave up 2.5 in budget gimmicks. things that were going to end anyway. >> boehner and cantor do not want to tax the wealthy donors. that is what it comes down to. are we going to balance this budget? it's the engine
even if you accept that larger number, the deficit is $1.5 trillion so, even if the republicans raise the you are giving $90 billion. where are you going to get the rest of it? it will have to come from entitlement reform and meaning spending cuts. >> it's coming from loopholes. i think we can. >> he criticized governor romney's plan based on the premise there is not enough revenue in the loop homes. he has agreed to the flame work, revenues or the table. we will give you $800...
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absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and higher taxes for a while, big deal, we will get there. that's got to be the plan not just the same nonsense. >> yeah, but larry, that's part of your point, but jonas says we're not in a bad recession, we're certainly not in a good recovery. and if we just keep falling little bit by little bit, maybe as much as jump off the cliff, but it's certainly a slippery slope. >> brenda, the damage is already being done. we saw it in november retail sales and companies delaying activity already and we know the ratings agencies are minutes away, we're right to fix the problem in the long run than making a bandaid short-term d
absolutely are going to die if things start to change and in fact, the underlying real problem, the growing deficit on the path to greece, the goalets worse once we kick the can away. that will be the overriding probleming not the slowing economy not people spending money, but sure, that might not happen in the first two months, but it will eventually happen if we keep kicking down the can. we want to prove to the world that we have a solution and if it takes a few months to get there and...
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. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> so right now, all eyes are on the white house. the country doesn't need a victory lap, it needs leadership. it's time for the president, congressional democrats to tell the american people what spending cuts they're willing to make and we'd like to thank the president for adopting the fox news slogan there and as we get closer to the fiscal cliff, both sides seem to be standing tough and what about the coverage, jim in. >> i think the debate overall that began with simpson bowls saying we should roughly have tax cuts, tax increases, pardon me, and spending cuts and so the media narrative is sort of, can we get simpson bowls through a recalcitrant republican congress? and what's changed
. >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it'd be good for our economy, it would be good for our children's future and i believe that both parties can agree on a frame work that does that in the coming weeks. in fact, my hope is to get this done before christmas. >> so right now, all eyes are on the white house. the country doesn't need a victory...
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i increased the size of the debt and the deficit. i got everything i wanted. the place is a mess. and look, i got re-elected. so, you know, what's so hard about me continuing to do that and blaming it on them because obviously i'm very good at that. and that's basically where he's going here. and the republicans, i think, are not very good poker players. first of all they signaled that they are kind of really reluctant to go over the cliff, and i think if you are in this kind ever a showdown you have to say, you know, bring it. come on. >> you'll do it. they will get blamed for it, though, if that happens. there's no question. the president is already signaling that. that wouldn't be a pleasant outcome for them. would you say they should suggest to the president they would be willing to do that and then maybe he would give 2nd end? >> i think they have to show that he is in negotiations and that he has to give and they are willing to give and if they just say we are so afraid of getting blamed for that, of course he's going to roll right over them. >> kim, where do you think the r
i increased the size of the debt and the deficit. i got everything i wanted. the place is a mess. and look, i got re-elected. so, you know, what's so hard about me continuing to do that and blaming it on them because obviously i'm very good at that. and that's basically where he's going here. and the republicans, i think, are not very good poker players. first of all they signaled that they are kind of really reluctant to go over the cliff, and i think if you are in this kind ever a showdown...
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it doesn't seem that great when the only thing that keeps the economy moving is the effect of wide deficits, monetary policies. i look at the whole thing, i am not feeling that good about it. >> we can put the data points together and string our own story together. we have to admit that in november consumer discretionary was the top performing s&p sector. scott, how do you account for that die verge ens? people are now getting concerned about the consumer? >> we are getting worried about the consumer in china. we knew the industrial story in china was problematic and the consumer was the good news. now we are worried about the consumer over here despite the fact that housing prices are improving and we are headed to the holiday. dan mentions tiffany. nordstrom's had a little tough time and mcdonald's which really hung in there and done well not as well as yum but mcdonald's is faced with problems as far as same store sales and turnover. none of these consumer names, high end, low end, none of them are doing really well. >> to the yum story if we are going to say yum is having problems in ch
it doesn't seem that great when the only thing that keeps the economy moving is the effect of wide deficits, monetary policies. i look at the whole thing, i am not feeling that good about it. >> we can put the data points together and string our own story together. we have to admit that in november consumer discretionary was the top performing s&p sector. scott, how do you account for that die verge ens? people are now getting concerned about the consumer? >> we are getting...
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we are in a deficit situation, as people have been discussing the past several weeks so there are potential in congress for the house and senate members. >> eric: billions of dollars. of taxpayers money that goes to the u.n. ambassador bolton, thank you for your insight. >> guest: thank you, eric. >> jamie: a fox news extreme weather alert. flood in effect for the west coast. yet another storm is approaching. folks are preparing for worst. severe weather threatening to bring more rain to an area that is already been drenched. chief meteorologist rick reichmuth live from the fox news extreme weather center. if you know rick is hanging out, it must be serious. how bad? >> really bad. this is the second batch of storms they have had this month. earlier in month, a lot of areas saw ten plus inchs of rain. now we have had another series of storms last week where we have seen ten plus inches of rain. the ground is saturated. this storm is windy. windy conditions across colorado, spreading across the intermountain west. the ground is saturated, if you take that wind and we will see more trees goin
we are in a deficit situation, as people have been discussing the past several weeks so there are potential in congress for the house and senate members. >> eric: billions of dollars. of taxpayers money that goes to the u.n. ambassador bolton, thank you for your insight. >> guest: thank you, eric. >> jamie: a fox news extreme weather alert. flood in effect for the west coast. yet another storm is approaching. folks are preparing for worst. severe weather threatening to bring...
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middle class tax cuts but put in place some carefully designed savings to bring downtown long-term deficits and we should do ethics help growth in the short term like rebuilding american infrastructure, helping americans with their mortgages, extend unemployment benefits. we show a way to pay for those in our plan in that context. that's what we think makes the most sense. of course, we're open to suggestions. there are going to be other ideas from democrats, other ideas from republicans. we can take a look at those ideas and evaluate them but not until we see them. >> schieffer: bottom line, though, is you're going to-- you're going to have to have more revenue and you expect to get it from upper income americans. you think they ought to pay more. >> we're going to have higher rate and higher revenue interest just 2% of americans. in any event% of americans do not need to see and are not going to see an increase in their marginal tax rates. that's a commitment of president. i think we're going to get there. the republicans have conceded-- and this is important-- they're prepared to raise r
middle class tax cuts but put in place some carefully designed savings to bring downtown long-term deficits and we should do ethics help growth in the short term like rebuilding american infrastructure, helping americans with their mortgages, extend unemployment benefits. we show a way to pay for those in our plan in that context. that's what we think makes the most sense. of course, we're open to suggestions. there are going to be other ideas from democrats, other ideas from republicans. we...
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we have four years without a budget, three yearsithout a budget -- three yes with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax thing -- letting e difference of 37 or 38%. giving the appearance that there is a middle ground being found here, do you believe that? >> if you look at the middle ground and what is reported, they are giving specifics on taxes, but not stunning. they are saying that those tax cuts will happen 10 to 20 years from now. th is saying that congress at that time, 10 years from now, is going to agree with the spending cuts. listen, we are in this situation because coogress could not even agree on spending cuts you way when the sequester was going into effect and they failed as a super committee in november. t
we have four years without a budget, three yearsithout a budget -- three yes with a trillion dollar deficit. so we are talking about a problem that needs to be solved with massive spending cuts on the table. neil: i don't know what is really happening behind the scenes. but i do know that these overtures and hands that you get from the white house that the president is open and willing to consider spending cuts -- i don't know what the truth is. the other thing on this middle ground, the tax...
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equation, besides allowing him to retain his approach, which is continuing to spend and rack up massive deficits and continuing higher taxes without any plan that bears that out. remember that his budget hikes taxes and still spends $47 trillion over the next 10 years. gerri: to that point, you look at the approval rating now going down for the first time since the election at 49%. i think it tells you something. maybe american people are looking at this and it looks a whole lot like campaigning to me. it is like the election never happen. we are still campaigning on the campaign trail. today in pennsylvania, talking about what needs to be done. shouldn't he be in the white house hosting the negotiations himself instead of sending his foot soldier, timothy geithner, the fellow who put together the biggest bailout in american history? talking about someone who is going to be good at negotiating on our taxpayer dollars. i would think that timothy geithner s not the man we met i would agree with you. this is actually shocking. i'm going to say that the president won, no contest there. can we get pa
equation, besides allowing him to retain his approach, which is continuing to spend and rack up massive deficits and continuing higher taxes without any plan that bears that out. remember that his budget hikes taxes and still spends $47 trillion over the next 10 years. gerri: to that point, you look at the approval rating now going down for the first time since the election at 49%. i think it tells you something. maybe american people are looking at this and it looks a whole lot like...
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president proposing for tackling the real economic challenge we have here, the real driver of budget deficits, the real threat to american economics, superiority in this world, out of control-- the president of the united states, the president for four yea years, no credible plan for tackling that spending. >> dave: there's been nothing put on paper when it comes to entitlements from the president one thing he's been afraid to do. now he's been reelected don't be afraid to face the voters. tack tackle entitlement and changes to survive. >> alisyn: isn't that the beauty of the second term. incumbency you're no longer bo ho holden to anyone. >> and that 1.6 trillion dollar. before 800 billion and now it's 1.6 trillion. maybe that's the second term speaking. >> alisyn: let's talk about what's going on with the christmas tree. as you know, it's christmas season and that means that there will be incidents where the p.c. police are out in force, checking and calling your tree, a holiday tree or a christmas tree and this has. this is brewing in massachusetts because the mayor of a small town, well,
president proposing for tackling the real economic challenge we have here, the real driver of budget deficits, the real threat to american economics, superiority in this world, out of control-- the president of the united states, the president for four yea years, no credible plan for tackling that spending. >> dave: there's been nothing put on paper when it comes to entitlements from the president one thing he's been afraid to do. now he's been reelected don't be afraid to face the...
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we saw this in new jersey, where governor christie, and an $11 billion deficit. he had a fiscal cliff. he brought everybody in. he knew where the middle road was and -- >> he didn't fall off it. >> exactly. >> i'm joe smith. and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me lose my entitlements. pat goodell can that work? >> people want at the rich to pay more because, okay, they should pay more. at the same time they don't want the economy to go in the hole. the other thing is they don't want the country to go broke, and what the republicans fail to do they fail to community indicate. they couldn't communicate themselves out of 0 wet babier bag. they don't hold barack obama accountable. you're the president and should lead on spending. this move of his give himself powers no president has had you take that to the country and say, you want him deciding he can spend whatever he wants. >> like removing the debt ceiling. >> exactly. i'm saying that's th
we saw this in new jersey, where governor christie, and an $11 billion deficit. he had a fiscal cliff. he brought everybody in. he knew where the middle road was and -- >> he didn't fall off it. >> exactly. >> i'm joe smith. and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me lose my entitlements. pat goodell can that work? >> people want at the rich to pay...
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they want to agree if they can bring down the deficit in terms of bringing more taxes in terms of revenue or cutting spending. and the third leg of that is something we don't know. how can we make the economy grow, if the economy grows faster, then we don't need to cut as much and we don't need as much revenue. the growth of the economy is in a way the fuzziest of all these things, because you don't know how fast, you can have estimates, you do have, the birth in the hand is you know you can bring in more revenue if you raise taxes on the wealthiest americans. you know you can save money if you cut entitlements. the question is how far do we want to go down the road of solving the problem. some people may say, we don't have to get all the way, as long as we make progress and we show to americans that you guys are in good hands with us, because at least we're going in the right direction, right now we can't even say that. >> right, so really that's what the wild card is, and what's so interesting, is you know, all of these things have a price tag. you raise taxes on the top 2%. you get x b
they want to agree if they can bring down the deficit in terms of bringing more taxes in terms of revenue or cutting spending. and the third leg of that is something we don't know. how can we make the economy grow, if the economy grows faster, then we don't need to cut as much and we don't need as much revenue. the growth of the economy is in a way the fuzziest of all these things, because you don't know how fast, you can have estimates, you do have, the birth in the hand is you know you can...
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that will have the worst impact on the deficit that anything will. we got to make sure that the economy continuebes to grow. that is the problem here. i know democrats have this blood lust to raise taxes on supposedly rich people, which are really small business people. but it is not going to do anything to grow the economy. here is what president obama needs. he has to make sure the economy grows. he will be a two-term jimmy carter if the economy goes back in recession and we can't pull ourselves out of this thing. >> eric: i heard you laugh, martin on the "two-term jimmy carter" line. >> he doesn't want to be a two-term george w. bush that took us in a steep recession. >> hey, you are the one with the bush tax cut. >> this can be worked out. everybody knows that. you can raise rates a point or two, that is not going to be end of the world. republicans understand that. let's get through with the fear we have had a couple of weeks of theater and let's get down to serious negotiations. i don't think the republicans want to fight to the death to protec
that will have the worst impact on the deficit that anything will. we got to make sure that the economy continuebes to grow. that is the problem here. i know democrats have this blood lust to raise taxes on supposedly rich people, which are really small business people. but it is not going to do anything to grow the economy. here is what president obama needs. he has to make sure the economy grows. he will be a two-term jimmy carter if the economy goes back in recession and we can't pull...
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we saw this in new jersey where governor christie had 11 billion dollar deficit. he had a fiscal cliff. he knew where the middle road was, and he didn't it. >> he didn't fall off. >> exactly. that's what this president has to do. >> i'm joe smith and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me to lose my entitlements. pat, can that ever work? >> well i think that's what most people think right now. they want the rich to pay more because maybe we should have them pay more. at the same time, they don't want the economy to go in the hole. the other thing is they don't want the country to go broke. what the republicans failed to do is what you're saying. they failed communication case w50eus. wise. they don't hold ban barack baraa accountable. to give himself powers that no president has had, you take that to the country and say you want him deciding he can just spend whatever he wants? >> that's like removing the debt ceiling. >> exactly. >> that's wha
we saw this in new jersey where governor christie had 11 billion dollar deficit. he had a fiscal cliff. he knew where the middle road was, and he didn't it. >> he didn't fall off. >> exactly. that's what this president has to do. >> i'm joe smith and i think that the dems want to raise taxes and the republicans want spending cuts, and as far as i'm concerned, i'd rather have the rich people pay taxes than me to lose my entitlements. pat, can that ever work? >> well i...
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greatest national-security threat is, he did not say al qaeda, iran, north korea, what he said was the deficit and the state of american society. i think that is exactly right. you can look at questions of the budget, and for structure, an immigration policy but above all this education policy. this is the future. we're not talking about our physical infrastructure. we are talking about our human infrastructure. joel has dedicated his recent phase of his creer to -- career to this. when he is not discovering the best restaurants in brooklyn, he is focused on improving the lot of young people in this country. >> it is supposed to be the other way around. >> i will tell you how kind and dedicated he has been to this issue. i called condie up and said i want you to do something for me and with me. she said i'm too busy, did not start. i said ok. i said before the end of this conversation, you will agree to what i asked you. she said no way. i said we at the council on foreign relations was spend time working on things like china and mexico and traditional foreign- policy issues, we have moved our
greatest national-security threat is, he did not say al qaeda, iran, north korea, what he said was the deficit and the state of american society. i think that is exactly right. you can look at questions of the budget, and for structure, an immigration policy but above all this education policy. this is the future. we're not talking about our physical infrastructure. we are talking about our human infrastructure. joel has dedicated his recent phase of his creer to -- career to this. when he is...
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they, republicans will come around on the deficit, because of the economic you know, cliff that we're hanging over. i think they'll do that. i don't think there's any doubt that the republicans will cooperate on immigration reform. they've learned how important the hispanic vote is and african-american vote. >> having gotten politics out of the way, the carters promptly returned to building, a work ethic that created marie's 175-square-foot home and something jimmy and roselynn carter say they'll forever do and like most things, do together. richard lui, msnbc, haiti. >>> grover norquist, the man in the middle, may be hit be the sidelines. but what about grover norquist has made hundreds march in lockstep behind him all these years? we'll talk about it. ♪ i'd like to thank eating right, whole grain, multigrain cheerios! mom, are those my jeans? [ female announcer ] people who choose more whole grain tend to weigh less than those who don't. multigrain cheerios tend to weigh less than those who don't. is bigger than we think ... sometimelike the flu.fer from with aches, fever and chil
they, republicans will come around on the deficit, because of the economic you know, cliff that we're hanging over. i think they'll do that. i don't think there's any doubt that the republicans will cooperate on immigration reform. they've learned how important the hispanic vote is and african-american vote. >> having gotten politics out of the way, the carters promptly returned to building, a work ethic that created marie's 175-square-foot home and something jimmy and roselynn carter say...
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talking a whole lot about money, how to keep our economy growing, and, of course, how to reduce the deficit. on thursday we'll have all eyes on washington actually. talking about same-sex marriage. two very controversial changes in washington. same-sex marriage will become legal there, and we'll also, of course, they'll be legalizing pot. those over 21 can carry up to an ounce of pot starting on thursday in washington. on friday yet another jobs report. the november jobs report this time. 171,000 jobs were added, you may recall, in october, but experts think that maybe superstorm sandy might have slowed the growth this time around. we'll see if that really does have any affect on that jobs report coming out on friday morning. on saturday college football fans pay close attention here. the heisman trophy winner will be announced. we'll find out who the best player in college football really is. >>> who was the only sitting president married in the white house. if you know the answer, tweet me@randi kaye cnn. we'll have the answer after this quick break. [ abdul-rashid ] i've been working sin
talking a whole lot about money, how to keep our economy growing, and, of course, how to reduce the deficit. on thursday we'll have all eyes on washington actually. talking about same-sex marriage. two very controversial changes in washington. same-sex marriage will become legal there, and we'll also, of course, they'll be legalizing pot. those over 21 can carry up to an ounce of pot starting on thursday in washington. on friday yet another jobs report. the november jobs report this time....
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talking, of course, about money, how to keep our economy growing, and of course hopefully reduce the deficit as well. very busy day there at the white house. on thursday, we have all our eyes on washington. two controversial changes in washington state, same-sex marriage becomes legal on thursday in washington state. we'll also be looking at marijuana. adults over 21 can legally carry up to an ounce of pot, sort of. the federal government still says pot is an illegal drug. that's how they're going to do it in washington on thursday. and on friday, we'll be watching for the jobs report. this is the november jobs report. in october, 171,000 jobs were add a added, you may recall. experts think superstorm sandy could affect this. a lot of people having a hard time getting around, power is out. really put a lot of folks behind. we'll see how that goes. on saturday, a big day for college football fans. heisman trophy winner will be announced. we'll find out who the best player in college football is. last year, can you remember who it is? nfl star robert griffin iii won the heisman. that's your we
talking, of course, about money, how to keep our economy growing, and of course hopefully reduce the deficit as well. very busy day there at the white house. on thursday, we have all our eyes on washington. two controversial changes in washington state, same-sex marriage becomes legal on thursday in washington state. we'll also be looking at marijuana. adults over 21 can legally carry up to an ounce of pot, sort of. the federal government still says pot is an illegal drug. that's how they're...
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what i heard you say, this deficit reduction, the economic questions, part of what i'm interested in, post '08 the conservative voices that emerge were the limbaughs and the glenn beck rather than elected leaders. what i'm wondering, is there a way in which elected republicans might help to move conservatism towards an actual conservatism as opposed to the social angst that we saw last time? >> i kind of reject the premise of the post '08. the most interesting development post '08 was something that you could not have predicted at this stage four years ago to the day, which is the rise of a pop list anti-government spending wing of the country and of the electorate. not anti-tax, anti-government spending. the tea party. you did get new voices talking in a different way. rand paul is not talking in the same way that a rick santorum or a newt gingrich has talked about. marco rubio doesn't talk. mike lee, there's a lot of different people who talk differently here. one question, chris christie is another. this class of 2010. that is an interesting wing. it's unclear whether that wing, if
what i heard you say, this deficit reduction, the economic questions, part of what i'm interested in, post '08 the conservative voices that emerge were the limbaughs and the glenn beck rather than elected leaders. what i'm wondering, is there a way in which elected republicans might help to move conservatism towards an actual conservatism as opposed to the social angst that we saw last time? >> i kind of reject the premise of the post '08. the most interesting development post '08 was...